PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Global real estate stocks rally unsustainable, says Lombard Odier Darier Hentsch
Global property stocks have, despite deteriorating fundamentals, had their biggest rally in 35 years since the trough in March but listed property is not attractive at current levels and the rally looks unsustainable, says Swiss bank Lombard Odier Darier Hentsch. "Some might argue that this valuation expansion simply reflects an anticipation of rising capital values, and that a pick-up in NAVs will soon absorb these premia," the bank said in a recent report. "We don't think so, at least not in the short term."